Thailand's Danthai Boonma and Rattanon Wannasrichan, India's Jyoti Randhawa, Taiwan's Lin Wen-tang and Johannes Veerman of the United States all had matching eight-under-par 64s at the top of the leaderboard at the par-72 Manila Southwoods Golf and Country Club.
Lin, 42, had a lucky eagle on his closing 18th hole that sent him into the tie for the lead after hitting four birdies in his opening five holes.
"It was a good day and I came into this round feeling very good about my game. There was not much wind in the morning and that really helped," the six-time Asian Tour winner said.
The other leaders also credited the benign conditions for their remarkable performances.
"There was no wind today so it can get fairly easy on this golf course when there's no wind. This golf course seems to set itself up nicely for my style of play so that helps a bit," said Randhawa, 44, who was Asia's number one in 2002.
64 - Danthai Boonma (THA), Lin Wen-tang (TPE), Rattanon Wannasrichan (THA), Johannes Veerman (USA), Jyoti Randhawa (IND)
65 - Hung Chien-yao (TPE), Steve Lewton (ENG), Tirawat Kaewsiribandit (THA), Sutijet Kooratanapisan (THA), Adam Groom (AUS).
66 - Lionel Weber (FRA), Rufino Bayron (PHI), Scott Vincent (ZIM), Nicholas Fung (MAS), Clyde Mondilla (PHI), Terry Pilkadaris (AUS), Giwhan Kim (KOR).